Terms in this set (25)
If having a warranty on a car is important, a person should buy a car that is
food, transportation, and clothing
The Dumescu family made a chart to compare its budget items. Liliana noticed that the sum of three of the budget items was half of the budget.
The store owner would most likely lower the price of the spring jeans to encourage consumers.
A clothing store has ordered a new supply of jeans for the fall season and wants to sell off the remaining items from the previous spring. What action would the store owner most likely take?
Iliana's gross pay is $2,130 per month. Her deductions total $270. She budgets for $1,000 in fixed expenses and $400 in variable expenses. How much money will Iliana be able to save?
This year, the annual tuition at a public four-year university is $5,290. Next year when Jarrod attends his first year, the tuition is expected to increase 4.5%. Jarrod has 1 year to save the amount of money equal to the tuition for his first year. What is the approximate minimum amount Jarrod should save monthly?
A down payment is usually what percentage of the asking price of a home?
Elasticity of demand measures how the amount of a good changes when its price goes up or down.
What is the best definition of elasticity in economics?
Which is a kind of federal payroll tax?
The career is shrinking and will provide fewer opportunities over time.
What is the job outlook for a US postal worker?
Fiona wrote a check to the veterinarian for $89.56. She'll use the check register to record her transaction. What will be her new balance?
The marginal cost will most likely increase to $2.00
What most likely will happen if the pie maker bakes a seventh pie?
A _ form must be filled out when someone is hired for a job to determine how much income tax will be withheld.
A _ is a set amount of pay received by a worker over the course of a year.
the state of the economy.
The level of investment in markets often indicates
Which living expense needs to be included in the budget of someone renting an apartment?
The graph is a marginal cost curve that compares expenses for producing apple pies.
$200 per month for 4 years
Yasmine plans to attend a four-year public university. She expects she will need to contribute $9,000 annually to her education. Which savings plan will help Yasmine save enough money to pay for one year of school, regardless of whether or not interest is earned on her savings?
One way to revise a budget to meet long-term goals is to _ discretionary spending.
Which is an example of a financial change that would require budgetary consideration?
They can be approved for loans.
They can receive lower interest rates.
They can use credit in emergencies.
Which is most likely to happen to consumers with good credit? Check all that apply.
the person's credit rating
the person's social security number
an inquiry from a bank that requested the person's credit report
Which information can be found on a person's credit report? Check all that apply.
The chart describes four people's credit histories. Which person is creditworthy?
avoiding late payment fees
having to share your account information
not having to find a stamp and a mailbox
possible overdraft fees if there is not enough money in the account to cover the payment amount
What are possible advantages and disadvantages of using automatic withdrawal to pay bills? Check all that apply.
Aliyah made a payment in the amount of $47.93. She'll use the check register to record her transaction. What will be her new balance?
This table can be used to organize Gigi's credit card balances and payments over 6 months. The annual percentage rate on the credit card is 14%. What is the amount of interest charged for the first 6 months?
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Practical Exam 2
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